Frequently Asked Questions
General Information
Who is M A Fastmove Limited (Shpun)?
FCA Licence Information
FCA FRN: 817249
Status: Authorised Payment Institution
Since: 13/08/2019
See the details of our authorisation on the FCA website here.
What services does Shpun offer?
Shpun offers a range of payment processing services specifically designed for B2B customers. Our services include secure money transfers, payment solutions, and assistance in managing cross-border payments. Please see the Our Solutions section to find out more about our offering .
Who can use Shpun's services?
Our services are available to B2B clients in the UK only. We do not offer services to individuals or overseas businesses.
How secure are my funds with Shpun?
We are required by law to safeguard all funds we receive for payment services transactions. 100% of these funds are safeguarded using designated safeguarding accounts which mean the money in them is safe from your provider’s insolvency, and a specialist insurance policy.
Can I make international payments with Shpun?
Yes, you can make international payments using Shpun’s services. Please note that there may be additional fees associated with international transfers.
What are the fees associated with using Shpun's services?
Fees vary depending on the specific services you use. Please refer to our fee schedule of the Customer Agreement for details or contact us via info@shpun.co.uk.
Is Shpun regulated?
Yes, M A Fastmove Limited (Shpun) is authorised and regulated by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2017 as an Authorised Payment Institution (API).
FCA Licence Information
FCA FRN: 817249
Status: Authorised Payment Institution
Since: 13/08/2019
Permissions: Payment Services
The link to our license on the FCA website can be found here
How do I get in touch with Shpun?
Account Opening and Management
How do I become a customer of Shpun?
What documents do I need to provide to open a B2B account?
The set of required documents depends on your business model and the risk associated with it. Our Sales colleagues will be able to provide you with advice on this when the initial introductory meeting has taken place.
How long will take me to become Shpun’s customer?
We aim to finalise your account applications within 2 weeks. However, this varies depending on the quality of documents and answers you provide during the application.
Can I manage my B2B account online?
Yes, you will be given access to our Business Portal upon completion of the application process. You will be able to view your balance as well as create collections and payment requests.
What fees does Shpun charge for its services?
Our fees vary depending on the services required and the size of transactions processed. Please contact our sales team for a customised quote tailored to your business needs.
Does Shpun support cross-border payments?
Yes, we specialise in providing cross-border payment solutions for B2B clients, ensuring fast, secure, and compliant international money transfers.
What industries are not supported by Shpun?
Shpun will not do business that relates to any of the industries, products an services listed below:
- Adult Content such as Adult Entertainment, pornography, adult pay per view, adult webcams or any other similar services.
- Adult services such as Prostitution, escort services, non-therapeutic massage services etc.
- Auctions, Penny auctions.
- Carbon Credits.
- Charities.
- Counterfeit Goods.
- Crowdfunding, crowd-lending/financing (unregulated).
- Cryptocurrencies, crypto assets, tokens and assimilated.
- Data (including personal or sensitive data) sale/purchase.
- Debt collection services.
- Defence/Military.
- Domiciliation agents, trust services, legal services.
- Donations: charities, NGOs, political parties or political activities.
- Drugs legal or illegal; narcotics, psychotropic substances, cannabis and derived substances, drug paraphernalia.
- Financial services (unlicensed).
- Followers, likes, views, approvals or ratings/reviews purchases on Twitter, Facebook, YouTube or other social networks or
- Marketplaces (Amazon, eBay, AppStore, etc.).
- Gambling, betting, gaming, e-casinos, lotteries, skill games and assimilated.
- High Value Dealers.
- Human Trafficking.
- Illegal Goods.
- Multi level, pyramidal, affiliate marketing activities or assimilated.
- Online sale/trading of pharmaceutical, dietary goods, fitness integrators not qualifying as pharmaceutical goods where the goods are illegal/unauthorised in the country of establishment of the platform or not authorised in the countries of establishment of buyers and sellers.
- Online sale/trading of pharmaceutical goods where the seller is not appropriately licensed and goods are not authorised in the country of establishment of the platform or not authorised in the countries of establishment of buyers and sellers.
- Parcel or goods transportation, pick-up, handling.
- Pawnbrokers.
- Ponzi/Pyramid Schemes.
- Precious Metals.
- Profiles: account sharing or renting on streaming platforms or similar (Netflix, YouTube, Spotify, etc.).
- Profiles: creation, management of fake profiles on social networks, or of false or fraudulent merchants or buyers on marketplaces.
- Psychic services, voyance services, unlicensed therapists.
- Shell Banks.
- Speculative Trading.
- Subscription-based services, negative option billing.
- Tobacco, vapes, e-cigarettes, alcohol or similar products.
- Travel agencies, online travel bookings, travel facilitators, carriers that offer travel packages points redemption conversion offers and subscriptions offered to customers by direct mail and outbound telemarketing.
- Unlicensed medical consultations, teleconsultations, advice or practice.
- Weapons.
- White labelling and/or grey labelling solutions. This category typically includes SaaS solutions for e-commerce, marketplaces, and crowdfunding.
- E-sports, video gaming competitions and associated that offer rewards/winnings of immediate or obvious monetary value.
About Modulr
How does the relationship between Modulr and Shpun work?
M A Fastmove Limited (Shpun) is a distributor of Modulr FS Limited, a company registered in England and Wales with company number 09897919, which is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573) for the issuance of electronic money and payment services.
What is Modulr?
Modulr FCA is an Authorised Electronic Money Institution. Its licence allows it to provide Virtual Accounts, which is a white-label BaaS solution enabling Shpun’s customers to receive payments from their underlying customers.
When the customer places funds in their Modulr account, what protection is awarded to the funds? Are the funds ring fenced so the customer isn’t subject to Modulr managing their own cashflow balances?
Your account and related payment services are provided by Modulr FS Limited. Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) your funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011 – for more information please see “UK Safeguarding Explanation”. Here you can consult the Modulr Terms and Conditions for Shpun clients in the UK.
Security and Protection
How does Shpun protect my data?
Shpun uses state-of-the-art core systems that have multiple integrations with reputable partners to protect all transactions. Our security protocols comply with FCA expectations and industry best practices, ensuring the safety and integrity of your transactions.
What is Shpun’s policy regarding data privacy?
We are fully committed to protecting the privacy of our clients. Shpun complies with the UK General Data Protection Regulation (GDPR) and other relevant data protection laws. We only collect and process data that is essential for delivering our services and never share client information with third parties without explicit consent. For more information check our Shpun Business Portal Privacy Policy.
Does Shpun offer two-factor authentication (2FA) for added security?
Yes, Shpun offers two-factor authentication (2FA) to enhance the security of client accounts. With 2FA enabled, you will need to provide an additional verification code (sent via email) along with your password to access your account. The major authenticator applications are also enabled.
What steps should I take if I suspect my account has been compromised?
If you suspect your account has been compromised, please contact our support team immediately at support@shpun.co.uk. We recommend changing your password and ensuring that your security credentials, such as two-factor authentication (2FA), are activated.